Banks

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Malini Bhupta
07 Jun 2023, 15:24

Have a complaint against your bank? Here’s how RBI plans to resolve your grievances

Have a complaint against your bank? Here’s how RBI plans to resolve your grievances

Have a complaint against your bank? Here’s how RBI plans to resolve your grievances

The Reserve Bank of India (RBI) committee on customer service standards has proposed numerous recommendations to improve the quality of customer service and grievance redressal mechanisms, including creating a common complaints portal, compensating customers for the loss of original home agreements and offering senior citizens a dedicated phone line for their queries. The committee's report suggests regulating entities, such as banks, should maintain a centralised database of Know Your Customer (KYC) documents of all customers to avoid duplication. The RBI may adopt a carrot and stick approach to ensure better service standards.

Bank holidays in June 2023 - Kabir Jayanti, Bakrid in the list
BI India Bureau
31 May 2023, 11:51

Bank holidays in June 2023 - Kabir Jayanti, Bakrid in the list

Financial planning is a crucially important activity for individuals, businesses and other entities. During June, people and businesses may start implementing their plans for the fiscal year ahead. After consolidating the accounts after the close of the financial year in March, many things would be falling in place during the month of June. Therefore, many people and businesses might need to plan for their investments, loans and other requirements and approach banks accordingly.

SBI vs Bank of Baroda vs Canara Bank: How India’s top PSU banks performed in Q4
Rounak Jain
22 May 2023, 10:00

SBI vs Bank of Baroda vs Canara Bank: How India’s top PSU banks performed in Q4

Indian PSU banks have yet again delivered another stellar quarter of earnings in the fourth quarter, with asset quality improvements. India’s largest lender State Bank of India posted its third consecutive quarter of all-time high net profit, while other major PSU banks like Bank of Baroda and Canara Bank also delivered an improvement in their performance.